pbb finances €58 mln for construction of new office in Wiesbaden (DE)

pbb Deutsche Pfandbriefbank has provided IFM Immobilien Group with financing of €58 mln for construction on an area of land known as Kureck in Wiesbaden.
In the first phase of the project, the financing will be used for the construction of a new office building with 10,700 m² of space and an underground car park with 120 parking spaces and which will be used for the long-term by the Ministry for Integration and Social Affairs in Hessen.
In addition, the financing will be used for the core refurbishment and expansion of a listed business premises with approximately 3,700 m² of rental space and 88 underground parking spaces, as well as for the construction of a city villa with 11 apartments and 20 underground parking spaces.
Over the course of the next few years, and in a number of building phases, a new quarter with over 40,000 m² of gross floor space will be built on the site near Kurpark and which stretches over the Adolfsberg between Schöne Aussicht and Taunusstraße/Sonnenberger Straße.
The inner-city site is currently characterized by a high-rise building which was the former administrative headquarters of an insurance group. Over the past few years, IFM Immobilien Group has developed the site with new building rights in close co-operation with the city.
Source: pbb
 Deutsche Pfandbriefbank